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A spectacular building site for 12,500 sq m of office space on avenue Montaigne
Translated from French, see original article by Guillaume Errard for Figaro Immobilier >
How to combine heritage and modernity? This is the complex challenge that Saudi investor Olayan (who owns The Knightsbridge Estate in London, the Ritz Hotel in Madrid and 550 Madison in New York) has set himself. In Paris, he chose a prestigious address: 50 avenue Montaigne in the 8th arrondissement.
Located just a stone’s throw from the Champs-Élysées, this former headquarters of La Banque Privée 1818 was built at the beginning of the 20th century (in 1910 to be exact). By the summer of 2021, it will have almost completely changed its face. Its historic façade will be preserved, but the heart of the building will be replaced by an ultra-modern structure, made of reconstituted concrete and glass to facilitate the entry of light (see our video as the main illustration), designed by the Fresh Architectures agency and by RF Studio for the interior.
In a little over a year’s time, no less than 12,500 sq m of very high-end office space spread over nine floors will emerge from the ground in the heart of the Golden Triangle. Once delivered, they will be able to accommodate up to 1,000 employees, i.e. more than 12 sq m per employee, who will have at their disposal flexible floors of 1,500 sq m each. Up to three tenants will be able to occupy the premises for an annual rent of 930 euros per sq m.
A rate higher than the market rate (870 euros). “The address is prestigious, the size is new, the architecture is audacious because it is open to the outside world and the location is unique” justifies Nicolas Marin, asset manager at Chelsfield, which manages more than 4 billion euros of real estate worldwide, including 50 avenue Montaigne. In addition to this, 2,500 sq m of shops will be created in the historic part of the building, inherited from the Lariboisière mansion dating from 1890.
For the common areas, Chelsfield has borrowed the hotel and co-working codes. “The reception hall will include a reception desk where people can come and have a drink. It can be transformed into a space dedicated to evening events, for conferences or seminars for example,” explains Nicolas Marin.
On the relaxation side, future tenants will have a café (420 sq m), a sports hall (390 sq m) and a theatre (510 sq m). Motorists, cyclists and motorcyclists will also have their own dedicated space: 135 parking spaces on 4 levels, bicycle rooms (158 sq m) and 50 spaces for two-wheeled vehicles.
Between the 530 sq m interior garden and the terraces (1,240 sq m on 5 levels, accessible from each plateau) – including a 360° roof terrace with a vegetable garden – there will also be room for plants. “We wanted to create a link between the occupants, to surprise with spaces that are unusual for an office building, to make people feel at home at work, and not just rehabilitate a building,” explains Guillaume Canciani, Chelsfield’s development director.